Marvell Technology Group Ltd. (NASDAQ:MRVL) major shareholder Sehat Sutardja sold 552,500 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $18.53, for a total value of $10,237,825.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Sehat Sutardja also recently made the following trade(s):

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On Wednesday, September 13th, Sehat Sutardja sold 1,000,000 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.73, for a total value of $17,730,000.00.

On Thursday, September 14th, Sehat Sutardja sold 1,375,000 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.84, for a total value of $24,530,000.00.

On Monday, September 11th, Sehat Sutardja sold 492,343 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.41, for a total value of $8,571,691.63.

On Tuesday, September 12th, Sehat Sutardja sold 1,042,343 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.46, for a total value of $18,199,308.78.

On Thursday, September 7th, Sehat Sutardja sold 537,235 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.57, for a total value of $9,439,218.95.

On Wednesday, September 6th, Sehat Sutardja sold 420,422 shares of Marvell Technology Group stock. The stock was sold at an average price of $17.84, for a total value of $7,500,328.48.

Marvell Technology Group Ltd. (MRVL) opened at 18.03 on Friday. The firm has a market capitalization of $8.94 billion, a PE ratio of 34.94 and a beta of 1.10. Marvell Technology Group Ltd. has a 12 month low of $12.30 and a 12 month high of $18.67. The stock’s 50 day moving average price is $16.65 and its 200 day moving average price is $16.25.

Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.03). Marvell Technology Group had a return on equity of 9.99% and a net margin of 10.97%. The firm had revenue of $604.75 million for the quarter, compared to analyst estimates of $600.76 million. During the same period in the prior year, the company posted $0.18 EPS. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts expect that Marvell Technology Group Ltd. will post $1.12 earnings per share for the current fiscal year.

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A number of research firms have commented on MRVL. B. Riley reaffirmed a “buy” rating and set a $24.00 target price on shares of Marvell Technology Group in a report on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $16.00 target price on shares of Marvell Technology Group in a report on Monday, August 28th. Loop Capital reaffirmed a “buy” rating and set a $22.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $23.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Finally, Northland Securities reaffirmed a “buy” rating and set a $20.00 target price on shares of Marvell Technology Group in a report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $19.22.

A number of large investors have recently bought and sold shares of MRVL. ProShare Advisors LLC raised its position in shares of Marvell Technology Group by 0.3% during the 1st quarter. ProShare Advisors LLC now owns 27,321 shares of the semiconductor company’s stock valued at $417,000 after acquiring an additional 75 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Marvell Technology Group by 4.0% during the 1st quarter. Wells Fargo & Company MN now owns 184,261 shares of the semiconductor company’s stock valued at $2,812,000 after acquiring an additional 7,038 shares during the last quarter. First Trust Advisors LP raised its position in shares of Marvell Technology Group by 136.8% during the 1st quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock valued at $5,559,000 after acquiring an additional 210,421 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Marvell Technology Group by 191.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,724 shares of the semiconductor company’s stock valued at $433,000 after acquiring an additional 17,566 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in shares of Marvell Technology Group by 12.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 88,075 shares of the semiconductor company’s stock valued at $1,344,000 after acquiring an additional 9,453 shares during the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

About Marvell Technology Group

Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.